On July 21, 2017, the Company acquired Lithium IP Holdings in a transaction that included a management and business direction change. Randell Torno was named the new Alternet Systems Chairman and CEO. Edward Bollen, the President of Lithium IP Holdings, also joined the Altnernet Systems management team. On June 23, 2017, Lithium IP Holdings executed an agreement to exclusively license ten U.S. Patented lithium battery technologies* with an option to acquire the ten U.S. Patents. The current business plan is to develop partnerships with prominent businesses and agencies to commercialize its portfolio of lithium technologies while at the same time continuing to expand the existing portfolio.